Today we have seen Sterling Australian Dollar exchange rates hit their highest levels for 6 years as negative Chinese data wreaks havoc for global stock indices.
As Australia is heavily reliant on what happens in China the data caused huge weakening for the Aussie Dollar creating some excellent buying opportunities if you need to transfer money to Australia.
The stock market in China fell by over 8% its biggest daily fall since 2007 as investors sold off riskier currencies including the AUD, NZD & ZAR.
Commodities have fallen to a 16 year low and as much as US$5 trillion has been wiped off global stock indices over the last few days since the Yuan was devalued.
With currency markets almost impossible to predict at the moment if you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]